Prestige Wealth signs, closes $150M financing for Aurelion treasury

Prestige Wealth (PWM) announced its entry into and the closing of a set of coordinated transactions to initiate NASDAQ’s first Tether Gold treasury. The transactions include an approximately $100M PIPE financing from anchor investor Antalpha Platform Holding Company (ANTA), and other accredited investors, including TG Commodities and Kiara Capital, invested by Antalpha management, and a 3-year $50M senior debt facility. The Company intends to use the majority of the net proceeds to fund the acquisition of Tether Gold as the Company’s treasury reserve asset. The Company is expected to be renamed as “Aurelion Inc.”, subject to approvals, and will trade under the new ticker (AURE) beginning Monday, October 13, 2025. The $100M PIPE financing brings in investors who purchased approximately 278M units, with each unit comprised of one Class A ordinary share, Class B ordinary share or pre-funded warrant to purchase an ordinary share at a price of $0.36 per share and two warrants, with one warrant to purchase 0.5 Class A ordinary shares or Class B ordinary shares with an exercise price per share equal to 130% of the Share Purchase Price and one warrant to purchase 0.5 Class A ordinary shares or Class B ordinary shares at an exercise price per share equal to 150% of the Share Purchase Price. The warrants for Class A ordinary shares are immediately exercisable. Aurelion Treasury PIPE includes subscriptions from anchor investor Antalpha for approximately $43M, and other accredited investors, including Kiara Capital for $6M and Tether for $15M. Gross proceeds of approximately $290M, which include proceeds of $50M from the Facility, approximately $100M from the PIPE and $140M to the extent that the warrants issued in the PIPE are fully exercised, of which $280M is anticipated to be utilized for the purchase of Tether Gold. The $50M Facility will be secured by a first-priority perfected liens on $67M of the Company’s Tether Gold, which will be held in a controlled account. The Facility matures 36 months after funding and the Company may prepay the Facility at any time without any premium or penalty. The interest rate is 6% per year, compounded monthly. The term loan can be mutually extended. Bjorn Schmidtke, Chairman and co-founder of Penguin Group, joins as CEO of the Company. The following management changes became effective at the closing of the transactions: Kazuho Komoda’s resignation as the Company’s CEO and board member; Zimuyin Jiang’s transition from CFO to chief accounting officer; and Wei Gao’s transition from CTO to the head of private wealth management business. Antalpha has the right to nominate two directors to the Company’s board of directors at the closing of the transactions. A strategic advisory committee has been established to advise the Company’s board of directors on the direction of its treasury strategy, with members including Rohan Chauhan, Director of Strategy at Gemini.